Sinopec First-Quarter Profit Surges

By Wayne Ma Features Dow Jones Newswires

China Petroleum & Chemical Corp. (0386.HK, SNP) on Thursday said it booked a net profit of 17.2 billion yuan ($2.5 billion) in the first quarter, up 157.9% over a year earlier, according to a statement filed with the Hong Kong Stock Exchange.

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The state-owned oil refiner said combined oil-and-gas production fell 2.4% in the quarter ended March 31 to 111.93 million barrels of oil equivalent. Domestic crude oil output fell 8.6% to 61 million barrels.

In its core refining business, throughput rose 3.1% on the year to 58.95 million metric tons.

Write to Wayne Ma at wayne.ma@wsj.com

(END) Dow Jones Newswires

April 27, 2017 10:47 ET (14:47 GMT)